logo
Singapore's Mapletree wins land tender, adds Tsing Yi logistics site to Hong Kong assets

Singapore's Mapletree wins land tender, adds Tsing Yi logistics site to Hong Kong assets

Hong Kong has awarded Singapore's Mapletree Investments a 50-year land grant to a parcel of land in the New Territories for about HK$3.68 billion (US$473 million), according to the Lands Department on Tuesday.
Advertisement
Mapletree's unit Titanium 2 was the sole bidder for the 44,318-square-metre (477,000 sq ft) logistics site in Tsing Yi following a
tender that closed on Friday.
The 'positive market response' to the site, known as Tsing Yi Town Lot 202, 'clearly reflects the trade's continual confidence in Hong Kong's role as an international logistics hub', a spokesman for the Transport and Logistics Bureau said.
Three other logistics sites will be released 'in a timely manner, taking into consideration the market situation', he added.
Mapletree's real estate portfolio in Hong Kong includes an 11-storey grade-A logistics hub with a gross floor area of 120,550 square metres, also in Tsing Yi, and the
Festival Walk shopping centre in Kowloon Tong, which has a gross floor area of 112,297 square metres.
Advertisement
The parcel can support a maximum gross floor area of 227,836 square metres for a multi-storey logistics facility and a public car park.
Wholly owned by Singapore investment firm Temasek Holdings, Mapletree paid HK$1.69 billion in 2013 for its first site in Tsing Yi, which was its first greenfield development in Hong Kong.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Hongkong Post's online shipping portal hacked, potentially exposing users' personal data
Hongkong Post's online shipping portal hacked, potentially exposing users' personal data

HKFP

time5 hours ago

  • HKFP

Hongkong Post's online shipping portal hacked, potentially exposing users' personal data

Hongkong Post has said that a cyberattack on its online shipping portal may have exposed the personal data of senders and recipients. In a statement issued late on Monday evening, the city's postal service said that it had identified the incident involving its EC-Ship account holders. 'Based on preliminary assessment, the incident could involve the information on the address books of EC-Ship account holders, including senders' and recipients' names, addresses, phone numbers, fax numbers and email addresses,' the statement said. The EC-Ship service allows customers to prepare shipping labels and pay estimated postage online. Hongkong Post said it took 'immediate measures' to block the breached access and reported the case to the police, the Digital Policy Office (DPO), the Office of the Privacy Commissioner for Personal Data (PCPD), and the Security Bureau on Monday. 'Investigation is still underway to ascertain the number of account holders affected and whether any personal data leakage is involved,' the statement also said. 'Hongkong Post will inform affected account holders as soon as possible when further updates are available.' A total of 7,249 registered customer email addresses were exposed when Hongkong Post experienced a data security breach in 2023. The PCPD, Hong Kong's privacy watchdog, said in November that 70 per cent of Hong Kong companies had experienced some form of cyberattack in the past year. In March, Hong Kong lawmakers passed a law meant to enhance safeguards for the city's key infrastructure systems against cyberattacks, imposing fines of up to HK$5 million for cybersecurity lapses. The law, however, excludes government departments, including Hongkong Post. The Fire Services Department, the Registration & Electoral Office, the Electrical and Mechanical Services Department, Cyberport, the Consumer Council and the Companies Registry are among the governmental and statutory bodies that have recently suffered data leaks.

Book fair vendors have final shot at boosting sales
Book fair vendors have final shot at boosting sales

RTHK

time5 hours ago

  • RTHK

Book fair vendors have final shot at boosting sales

Book fair vendors have final shot at boosting sales Exhibitors at the book fair offer discounts and special promotions to boost sales. Photo: RTHK Many booklovers flocked to the fair to find bargains. Photo: RTHK Exhibitors at the Hong Kong Book Fair made a last-ditch effort to boost sales on Tuesday, offering additional discounts and promotions on the final day of the annual event. The fair, held alongside the World of Snacks fair and the Sports and Leisure Expo at the Convention and Exhibition Centre, didn't open on Sunday when Typhoon Wipha skirted past the city. Alva Au, director of Cosmos Books, said the publisher was offering special offers on certain books to try to make up for the business disruption over the weekend. 'Our business has been greatly affected by the typhoon. Saturday and Sunday are [traditionally] the two days with the best sales at the book fair. And I don't think we can make up for the loss on the Sunday. I think it's about a 20 to 30 percent [drop in business],' she said. 'In the beginning, we offered 20 percent off. And today, we selected some special books and can offer 30 percent off. We hope it can attract more people.' To boost sales, major publishers like Commercial Press, Chung Hwa Book and Ming Pao also slashed prices on selected books, to as low as HK$10 each. There were also special offers like "HK$100 for 10 books" and extra discounts for more purchases, as vendors tried to sell as many books as they could. The fair was fairly quiet in the morning, but crowds of people started flocking there in the afternoon looking for bargains. A visitor surnamed Kwok planned to spend about HK$1,000. 'I came a few days ago and I had a great experience. I came back to find some discounted books,' she said. Another bookworm, a woman surnamed Yu returned to the fair with her son after going alone last week. 'The discounts today are much larger compared to last time,' she said. 'I returned to the same publisher to make purchases. Previously, they offered about 20 to 30 percent off, but this time it's up to 60 percent off. I'm buying books that were previously only on my wish list or under consideration. I have a budget of about HK$2,000 to HK$3,000 today.'

Link boss George Hongchoy to retire in June
Link boss George Hongchoy to retire in June

RTHK

time9 hours ago

  • RTHK

Link boss George Hongchoy to retire in June

Link boss George Hongchoy to retire in June George Hongchoy, head of Hong Kong's real estate investment giant Link, says he'll work with the management to bring about a smooth transition. File photo: RTHK Link Asset Management (Link) announced on Tuesday that its chief executive and executive director, George Hongchoy, plans to retire by the end of June 2026. In a statement, the board of the company, Asia's largest real estate investment trust (REIT), also said it would search for a successor to Hongchoy to lead the company into the next phase of its development. It expressed gratitude to Hongchoy for his contribution and leadership over the past 16 years. "Under George's leadership over the past 16 years, Link has grown and transformed to the benefit of unitholders, tenants, employees and the wider communities that we serve," said chairman Duncan Owen. "On behalf of the board and everyone at Link, I would like to express sincere gratitude to George for his significant contributions. "We look forward to continuing to work together during the transition." For his part, Hongchoy said he'll work with the leadership team to bring about a smooth transition. 'It has been a privilege and honour to serve as group CEO of Link during a formative period of the organisation's growth and development," he said. "We have strengthened the overall leadership of the business in recent years, and I am confident we have the right team in place for the next phase of Link's development,' he added. Link manages the Link REIT, which oversees some HK$226 billion in assets across the retail, office and logistics sectors, according to its website. Hongchoy, a former investment banker, joined the company in 2009 as chief financial officer before moving to the top job the following year.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store